Hi there Ron,
You are right that it depends on your location. When HR 5140 was passed in March, it increased maximum loan limits in some "high cost areas" to $729,750. These are now called "Conforming Jumbo" mortgages. To see if your area qualifies as high cost, you can go here: https://entp.hud.gov/idapp/html/hicostlook.cfm to find out.

If you are not in one of these designated high cost areas, then you have to pay regular jumbo mortgage rates. Jumbo mortgages are defined as loans with amounts over $417,000. I pulled rates for a conforming loan (less than $417,000) 30 year fixed and a "jumbo" loan (over $417,000) today and compared them. The spread between these rates was 1.5%.

In contrast, the conforming 30 year fixed jumbo (designated high cost areas per H.R. 5140) vs. the conforming 30 year fixed spread is only about .50%.

Bottom line, if you are getting a quote for a jumbo mortgage, make sure the loan professional knows the difference between conforming jumbo and regular jumbo rates.