A magnetic junction usable in magnetic devices is described. The magnetic junction includes a reference layer, a free layer, a nonmagnetic spacer layer between the reference and free layers, and a rare earth-transition metal (RE-TM) layer in the reference and/or free layers. The free layer is switchable between stable magnetic states when a write current is passed through the magnetic junction. If the RE-TM layer is in the free layer then the RE-TM layer is between hard and soft magnetic layers in the free layer. In this aspect, the RE-TM layer has a standby magnetic moment greater than a write magnetic moment. If the RE-TM layer is in the reference layer, then the magnetic junction includes a second RE-TM layer. In this aspect, a first saturation magnetization quantity of the RE-TM layer matches a second saturation magnetization quantity of the second RE-TM layer over an operating temperature range.