Re'uma Weizman indicated yesterday that reports of differences between her husband, Israeli Defense Minister Ezer Weizman, and his boss, Prime Minister Menachem Begin, were "overblown."

"Whenever you travel outside your country, by the time you arrive it's so exaggerated," she said at a luncheon given for her by Vivian Dinitz, wife of the Israeli ambassador.

Ezer Weizman reportedly threatened to resign if Begin's government continued to expand Jewish settlements in Arab occupied territory on the West Bank. Weizman demanded that work be halted until after Begin's talks here with President Carter next week.

The threatened resignation was denied and confirmed in several subsequent rounds of international reporting but by yesterday, Re'uma Weizman seemed to offer no significant clarification of her own.

Was her husband going to resign, she was asked.

"I hope not," she replied.

Guests included the wives of the U.S. secretary of state, the secretary of defense, the speaker of the House and an associate justice of the Supreme Court.

Some of the guests, who represented various Jewish service organizations, exhibited what one woman called " a sense of disillusionment" over official U.S policy on the Mideast.

"The candidate Carter and President Carter are light years apart," said the woman. "We do have a sense of disillusionment but there is optimism. I think we should be patient. This (Begin) visit should have an upbeat effect on the rift existing."