Voice-Over Issue - Resonance (Constant Audio Gain)

Hi there! 

I am having an issue while making a voice-over recording in Premiere Pro CC and hope someone knows how to fix it? 

So after clicking on the "voice-over record" button in the workspace, and waiting for the countdown as I start speaking to the microphone the speakers start getting louder and louder to the point that I have to break the recording just a few seconds after. It looks as if the gain was going higher and higher as I speak. 

I have muted all my audio tracks but the issue keeps happening. Have tried with different microphones too and no luck at all. 

The only way to work this around is to mute my speakers completely but then I have to keep mute/unmute them all the time which is kind of annoying. 

Has someone had this issue before and knows how to fix it? 

Attached is a screenshot of the resulting waveform.