These two haven't released a statement on their engagement just yet, but we're learning details on the proposal.
And we now know when Justin picked out the ring.
A couple of sources shared some details with E! of exactly how Justin proposed to Hailey.
"They are engaged," the first insider dishes to E!. "And it happened Saturday night in front of a crowd in Baker's Bay."
Thanks to some candid shots on social media, we got our first look at Hailey Baldwin's engagement ring. E! also has some details on how that came to be.
"Justin made arrangements for the ring when they were in NYC," the source explains.
The insider shares that the Biebs wasn't just getting the ring for fun "and knew that he wanted to propose to her."
So quickly after the famous exes reconnected! Wow.
"It was a sudden decision," the insider admits.
Well, it would have to be. Just a few months ago, Justin and Hailey were still exes, and Justin seemed determined that his relationship with Selena Gomez was divinely ordained.
Things moved fast, the source explains, "but Justin always knew Hailey and him had a special bond that was incomparable."
Does that special bond have anything to do with the fact that she's an incredibly gorgeous model?
"The proposal was a very happy moment," the insider reveals. "And Hailey was taken off guard."
That sounds like such an anxiety-ridden moment for both of them.
"Her face was in shock," the source describes. "But you could tell they are both so in love."
A second insider also spoke up about their relationship.
"They are engaged," this second source confirms.
Honestly, even though it's widely reported by reputable folks, it's comforting for many fans to hear it from multiple sources.
Justin and Hailey have not actually confirmed it.
"It happened while on vacation at Baker's Bay," the insider said, offering (and really confirming) context.
"They flew in from New York on the 6th," this second source describes. "And have been having the time of their lives."
"Justin is happier than ever and wants to be with Hailey," the insider explains. "His family is very supportive and know he has been at his best lately. Everyone is very happy for him."
So, how exactly did Justin know that the time was right?
That first source offered some insight.
"Ever since they reunited, they have been inseparable," the insider shares. "And Justin knows he can't live without Hailey."
And apparently they had even discussed the idea.
"Justin and Hailey had talked about marriage before," the source reports. "But Hailey didn't think it would happen so quickly."
Again, with some famous exceptions, people usually wait for more than a few weeks of dating before getting engaged.
That source also notes that it's not only eyewitnesses who are in the know.
The insider specifically says: "A few of their friends know from Facetiming them."
So that tells us that the two are happy to share their joyous news with friends.
But there's no telling when they'll make an official announcement.
It could be this week, or it could be that these two avoid actually confirming anything until they actually tie the knot.