The present invention relates to highly quenchable Fe-based rare earth magnetic materials that are made by rapid solidification process and exhibit good magnetic properties and thermal stability. More specifically, the invention relates to isotropic Nd—Fe—B type magnetic materials made from a rapid solidification process with a lower optimal wheel speed and a broader optimal wheel speed window than those used in producing conventional magnetic materials. The materials exhibit remanence (B_r) and intrinsic coercivity (H_ci) values of between 7.0 to 8.5 kG and 6.5 to 9.9 kOe, respectively, at room temperature. The invention also relates to process of making the materials and to bonded magnets made from the magnetic materials, which are suitable for direct replacement of anisotropic sintered ferrites in many applications.