A magnetoresistance element includes a first magnetic layer having first and second surfaces, a second magnetic layer, an intermediate layer provided between the first surface and the second magnetic layer, a first layer provided on the second surface, containing B and at least one element selected from Hf, Al, Mg, and Ti and having third and fourth surfaces, a second layer provided on the fourth surface and containing B and at least one element selected from Hf, Al, and Mg, and an insulating layer provided on a sidewall of the intermediate layer and containing at least one element selected from the Hf, Al, and Mg contained in the second layer.