Listeners adapt language comprehension based on their mental representations of speakers, but how these representations are dynamically updated remains unclear. We investigated whether listeners probabilistically adapt their comprehension based on the likelihood of speakers producing stereotype-incongruent utterances. Our findings reveal two potential mechanisms: a speaker-general mechanism that adjusts overall expectations about speaker-content relationships, and a speaker-specific mechanism that updates individual speaker models. In two EEG experiments, participants heard speakers make stereotype-congruent or incongruent utterances, with incongruency base rate manipulated between blocks. In Experiment 1, speaker incongruency modulated both high-beta (21-30 Hz) and theta (4-6 Hz) oscillations: incongruent utterances decreased oscillatory power in low base rate condition but increased it in high base rate condition. The theta effect varied with listeners' openness trait: less open participants showed theta increases to speaker-incongruencies, suggesting maintenance of speaker-specific information, while more open participants showed theta decreases, indicating flexible model updating. In Experiment 2, we dissociated base rate from the target speaker by manipulating the overall base rate using an alternative non-target speaker. Only the high-beta effect persisted, showing power decrease for speaker-incongruencies in low base rate condition but no effect in high base rate condition. The high-beta oscillations might reflect the speaker-general adjustment, while theta oscillations may index the speaker-specific model updating. These findings provide evidence for how language processing is shaped by social cognition in real time.