All the scoop on her new, dazzling diamond!

By Alex Apatoff
Updated August 19, 2015 08:51 PM

You’ve seen the sweet shot of Julianne Hough celebrating her engagement to Brooks Laich (has anyone ever seemed happier)? You’ve seen her gazing at her new, sparkly rock on her left hand. But you haven’t known a thing about her new bauble — until now.

Courtesy Julianne Hough

So what is the actress and dancer, 27, sporting these days? A giant, classic Lorraine Schwartz diamond, of course (she’s been the engagement jeweler of choice for Lady Gaga, Blake Lively, Kim Kardashian, Sofia Vergara and more).

“The ring is over five carats and oval-shaped,” a source tells PEOPLE. “Brooks called Lorraine because he wanted to find the most perfect diamond that was truly beautiful and shined so bright — just like Julianne. Brooks and Lorraine worked together for months to find a ring that reflected Julianne’s grace and elegance. It’s very clean, very elegant, very beautiful and the diamond is the highest quality. It just shines gorgeous.”

Dying for a pic? You may have to wait a bit — Hough posted on her blog that she’s going on hiatus for a minute to enjoy the moment. “I’m going to take a slight social media time out to enjoy this special time with my fiance (!),” she wrote in a post thanking fans for their support. “When I return to writing in a few days, I promise some exclusive details and pics just for you, so stay tuned!”

Do you love the idea of an oval ring for Julianne?

RELATED VIDEO: See Julianne Hough Without Makeup!

— Alex Apatoff