I can't tell you how to fix this issue, but I started using RealTemp and it seems to show the correct speeds and temperatures. I had this same problem for several months and was convinced something was wrong with my cpu/motherboard/bios. I was about to give up but I decided to download good old RealTemp because new speedfan is crap (overly complicated/horrible UI, lack of past features).
Since then I also downloaded the AI Suite (Asus) and decided to see if I could OC from software (I know, ew), but it worked. Since then I downloaded an older version of CPU-Z which worked. It could either be that something was updated with the download of AI Suite to give CPU-Z the correct information, or just that the older CPU-Z worked properly. Either way this course of action worked for me.
As a side note, those with Asus motherboards may want to actually give Asus Turbo V Evo a try. It actually makes OC very ez. It gives you access to many voltages, your cpu ratio, bclk frequency as well as other things. You can always go into your bios to tweak your ram further or turn off undesirable settings like your C1E etc.