diff --git a/frontend/src/__tests__/riexchange-automation-settings.test.ts b/frontend/src/__tests__/riexchange-automation-settings.test.ts
index f157719b..79b28151 100644
--- a/frontend/src/__tests__/riexchange-automation-settings.test.ts
+++ b/frontend/src/__tests__/riexchange-automation-settings.test.ts
@@ -165,8 +165,11 @@ describe('loadAutomationSettings: loading and error stay inside the section fram
     expect(container.children).toHaveLength(1);
     expect(fieldset?.querySelector('legend')?.textContent).toBe('Exchange Automation');
     expect(fieldset?.getAttribute('aria-busy')).toBe('true');
-    expect(fieldset?.querySelector('.loading')?.textContent).toBe('Loading exchange automation settings...');
+    // Issue #186: the shared skeleton, not a visible loading paragraph.
     expect(fieldset?.querySelector('.skeleton-group')).not.toBeNull();
+    expect(fieldset?.querySelector('.skeleton-status')?.textContent).toBe('Loading…');
+    expect(fieldset?.querySelector('p.loading')).toBeNull();
+    expect(container.textContent).not.toContain('Loading settings...');
 
     resolve(Promise.reject(new Error('Failed to fetch')));
     (settings.isPermissionDeniedError as jest.Mock).mockReturnValue(false);
diff --git a/frontend/src/__tests__/skeleton.test.ts b/frontend/src/__tests__/skeleton.test.ts
index 767c8cad..c4fedf9f 100644
--- a/frontend/src/__tests__/skeleton.test.ts
+++ b/frontend/src/__tests__/skeleton.test.ts
@@ -13,8 +13,10 @@ import {
   showSkeletonTiles,
   showSkeletonRows,
   showSkeletonBlock,
+  showSkeletonText,
   teardownSkeleton,
   isSkeletonActive,
+  SKELETON_SLOW_MS,
 } from '../lib/skeleton';
 
 describe('skeleton primitives', () => {
@@ -174,6 +176,84 @@ describe('skeleton show / teardown lifecycle', () => {
   });
 });
 
+describe('consistent loading pattern + slow fallback (issue #186)', () => {
+  let container: HTMLElement;
+  beforeEach(() => {
+    jest.useFakeTimers();
+    container = document.createElement('div');
+    document.body.appendChild(container);
+  });
+  afterEach(() => {
+    jest.useRealTimers();
+    container.remove();
+  });
+
+  const slowNote = (): HTMLElement | null => container.querySelector('.skeleton-slow-note');
+
+  test('showSkeletonText renders N shimmer lines and marks active', () => {
+    showSkeletonText(container, 4);
+    expect(container.querySelectorAll('.skeleton-group .skeleton')).toHaveLength(4);
+    expect(isSkeletonActive(container)).toBe(true);
+  });
+
+  test.each([
+    ['tiles', (c: HTMLElement) => showSkeletonTiles(c, 2)],
+    ['rows', (c: HTMLElement) => showSkeletonRows(c, 2, 2)],
+    ['block', (c: HTMLElement) => showSkeletonBlock(c, '1px', '1px')],
+    ['text', (c: HTMLElement) => showSkeletonText(c, 2)],
+  ])('%s skeleton carries one screen-reader "Loading…" status', (_name, show) => {
+    show(container);
+    show(container);
+    const status = container.querySelectorAll('.skeleton-status');
+    expect(status).toHaveLength(1);
+    expect(status[0]!.getAttribute('role')).toBe('status');
+    expect(status[0]!.classList.contains('sr-only')).toBe(true);
+    expect(status[0]!.textContent).toBe('Loading…');
+  });
+
+  test('a skeleton still showing after the threshold gets a "Still loading" note', () => {
+    showSkeletonRows(container, 3, 3);
+    jest.advanceTimersByTime(SKELETON_SLOW_MS - 1);
+    expect(slowNote()).toBeNull();
+    jest.advanceTimersByTime(1);
+    expect(slowNote()!.textContent).toBe('Still loading. This is taking longer than usual.');
+    expect(slowNote()!.getAttribute('role')).toBe('status');
+    // The shimmer stays; the note is added, not swapped in.
+    expect(container.querySelectorAll('tr.skeleton-row')).toHaveLength(3);
+  });
+
+  test('no note when the real content replaced the skeleton (innerHTML handoff)', () => {
+    showSkeletonRows(container, 3, 3);
+    container.innerHTML = '<table><tbody><tr><td>real</td></tr></tbody></table>';
+    jest.advanceTimersByTime(SKELETON_SLOW_MS);
+    expect(slowNote()).toBeNull();
+  });
+
+  test('no note after teardownSkeleton (error path)', () => {
+    showSkeletonText(container, 2);
+    teardownSkeleton(container);
+    jest.advanceTimersByTime(SKELETON_SLOW_MS);
+    expect(slowNote()).toBeNull();
+  });
+
+  test('no note for a skeleton inside a hidden panel', () => {
+    container.classList.add('hidden');
+    showSkeletonText(container, 2);
+    jest.advanceTimersByTime(SKELETON_SLOW_MS);
+    expect(slowNote()).toBeNull();
+  });
+
+  test('re-showing restarts the clock and never stacks notes', () => {
+    showSkeletonTiles(container, 2);
+    jest.advanceTimersByTime(SKELETON_SLOW_MS - 1000);
+    showSkeletonTiles(container, 2);
+    jest.advanceTimersByTime(SKELETON_SLOW_MS - 1000);
+    expect(slowNote()).toBeNull();
+    jest.advanceTimersByTime(1000);
+    expect(container.querySelectorAll('.skeleton-slow-note')).toHaveLength(1);
+  });
+});
+
 // Issue #729 (UX-34): the placeholders are aria-hidden, so the container
 // carries aria-busy while one is showing, and drops it once real content
 // (or nothing) replaces it, whichever path did the replacing.
@@ -184,6 +264,7 @@ describe('skeleton aria-busy', () => {
     ['tiles', (c: HTMLElement): void => showSkeletonTiles(c, 2)],
     ['rows', (c: HTMLElement): void => showSkeletonRows(c, 2, 3)],
     ['block', (c: HTMLElement): void => showSkeletonBlock(c, '100%', '4rem')],
+    ['text', (c: HTMLElement): void => showSkeletonText(c, 2)],
   ])('show (%s) marks the container busy and keeps it busy after observers run', async (_name, show) => {
     const c = document.createElement('div');
     c.innerHTML = '<p>old content</p>';
diff --git a/frontend/src/apikeys.ts b/frontend/src/apikeys.ts
index 4a89ffa7..2f02d6a2 100644
--- a/frontend/src/apikeys.ts
+++ b/frontend/src/apikeys.ts
@@ -10,7 +10,7 @@ import { confirmDialog } from './confirmDialog';
 import { friendlyError } from './api/errors';
 import { showToast } from './toast';
 import { openModal, closeModal } from './modal';
-import { showSkeletonRows, teardownSkeleton } from './lib/skeleton';
+import { showSkeletonRows, showSkeletonText, teardownSkeleton } from './lib/skeleton';
 import { parseLocalDateInputValue, toLocalDateInputValue } from './lib/local-date';
 
 // State for modal management
@@ -285,7 +285,8 @@ export async function showCreateKeyModal(): Promise<void> {
   }
 
   const permissionsContainer = document.getElementById('apikey-permissions-list');
-  if (permissionsContainer) permissionsContainer.innerHTML = '<p class="text-muted">Loading your permissions&hellip;</p>';
+  // Issue #186: skeleton instead of a "Loading your permissions…" line.
+  if (permissionsContainer) showSkeletonText(permissionsContainer, 3);
 
   // Open the modal before the permissions fetch resolves so the dialog
   // never sits closed while waiting on the network.
diff --git a/frontend/src/lib/skeleton.ts b/frontend/src/lib/skeleton.ts
index 582de643..e439eeb0 100644
--- a/frontend/src/lib/skeleton.ts
+++ b/frontend/src/lib/skeleton.ts
@@ -17,10 +17,21 @@
  * All helpers use `createElement` only — no `innerHTML` — to match the
  * codebase's XSS posture from issue #340.
  *
+ * Issue #186: skeletons are the one loading pattern for panels (plain
+ * "Loading..." paragraphs were migrated to showSkeletonText). Every show*
+ * call also adds a screen-reader-only "Loading…" status, since the shimmer
+ * blocks are aria-hidden, and arms a slow-response fallback: if the
+ * skeleton is still on screen after SKELETON_SLOW_MS, a visible "Still
+ * loading" note is appended so a slow or stuck response does not look
+ * like a hang.
+ *
  * Accessibility (issue #729): the placeholders themselves are aria-hidden,
  * so the container carries `aria-busy="true"` while a skeleton is showing.
  * Success renders replace the children without calling back in here, so a
  * MutationObserver clears the flag once no placeholder is left.
+ *
+ * The two coexist: aria-busy marks the container, while the sr-only status
+ * and the slow note are what a screen reader actually hears.
  */
 
 const SKELETON_SELECTOR = '.skeleton, .skeleton-group, .skeleton-tile, .skeleton-row, .skeleton-table';
@@ -46,6 +57,35 @@ function markBusy(container: HTMLElement): void {
   busyObservers.set(container, observer);
 }
 
+/** How long a skeleton may show before the "Still loading" note appears. */
+export const SKELETON_SLOW_MS = 8_000;
+
+const SLOW_NOTE_TEXT = 'Still loading. This is taking longer than usual.';
+
+const slowTimers = new WeakMap<HTMLElement, ReturnType<typeof setTimeout>>();
+
+function clearSlowTimer(container: HTMLElement): void {
+  const t = slowTimers.get(container);
+  if (t !== undefined) {
+    clearTimeout(t);
+    slowTimers.delete(container);
+  }
+}
+
+/**
+ * True while the container still shows skeleton placeholders. Success
+ * renders replace the children (often via innerHTML, which leaves the
+ * data marker behind), so the shimmer elements themselves are the signal.
+ */
+function skeletonStillShown(container: HTMLElement): boolean {
+  return container.isConnected
+    && container.dataset['skeletonActive'] === '1'
+    && container.querySelector('.skeleton') !== null
+    // A placeholder whose panel was hidden (e.g. #settings-loading once the
+    // form shows) is not something the user is waiting on.
+    && container.closest('.hidden') === null;
+}
+
 /**
  * A single shimmer block. Width/height are CSS sizes (e.g. "60%", "1rem",
  * "12px"). Useful as a primitive inside higher-level helpers.
@@ -123,7 +163,33 @@ export function skeletonRow(cols: number): HTMLTableRowElement {
 function activateSkeleton(container: HTMLElement): void {
   while (container.firstChild) container.removeChild(container.firstChild);
   container.dataset['skeletonActive'] = '1';
+
+  const status = document.createElement('span');
+  status.className = 'sr-only skeleton-status';
+  status.setAttribute('role', 'status');
+  status.textContent = 'Loading…';
+  container.appendChild(status);
   markBusy(container);
+
+  clearSlowTimer(container);
+  slowTimers.set(container, setTimeout(() => {
+    slowTimers.delete(container);
+    if (!skeletonStillShown(container) || container.querySelector('.skeleton-slow-note')) return;
+    const note = document.createElement('p');
+    note.className = 'skeleton-slow-note';
+    note.setAttribute('role', 'status');
+    note.textContent = SLOW_NOTE_TEXT;
+    container.appendChild(note);
+  }, SKELETON_SLOW_MS));
+}
+
+/**
+ * Replace the children of `container` with `lines` text-line skeletons —
+ * the panel/form counterpart of showSkeletonRows (issue #186).
+ */
+export function showSkeletonText(container: HTMLElement, lines: number): void {
+  activateSkeleton(container);
+  container.appendChild(skeletonText(lines));
 }
 
 /**
@@ -176,6 +242,7 @@ export function showSkeletonBlock(container: HTMLElement, width: string, height:
  * content.
  */
 export function teardownSkeleton(container: HTMLElement): void {
+  clearSlowTimer(container);
   if (container.dataset['skeletonActive']) {
     while (container.firstChild) container.removeChild(container.firstChild);
     delete container.dataset['skeletonActive'];
diff --git a/frontend/src/riexchange.ts b/frontend/src/riexchange.ts
index d4f3f63a..52144a37 100644
--- a/frontend/src/riexchange.ts
+++ b/frontend/src/riexchange.ts
@@ -30,7 +30,7 @@ import type {
   Provider,
 } from './api';
 import { openModal, closeModal } from './modal';
-import { showSkeletonRows, teardownSkeleton, skeletonText } from './lib/skeleton';
+import { showSkeletonRows, showSkeletonText, teardownSkeleton } from './lib/skeleton';
 import { canAccess } from './permissions';
 import { applyReadOnlySettings, isPermissionDeniedError } from './settings';
 import { showToast } from './toast';
@@ -1689,12 +1689,14 @@ export async function loadAutomationSettings(): Promise<void> {
   // Hold the section's place with its own titled frame while the config
   // loads (issue #190): a bare "Loading settings..." line between the GCP
   // block and Commitment Laddering read as the whole page half-loaded.
-  const loadingP = document.createElement('p');
-  loadingP.className = 'loading';
-  loadingP.textContent = 'Loading exchange automation settings...';
-  const loadingShell = automationSectionShell(loadingP, skeletonText(3));
+  // Inside the frame, the shared text skeleton (issue #186) stands in for
+  // the form: it brings the screen-reader "Loading…" status and the
+  // "Still loading" note, so no visible loading paragraph is needed.
+  const loadingBody = document.createElement('div');
+  const loadingShell = automationSectionShell(loadingBody);
   loadingShell.setAttribute('aria-busy', 'true');
   container.replaceChildren(loadingShell);
+  showSkeletonText(loadingBody, 4);
 
   try {
     const config = await api.getRIExchangeConfig();
@@ -1973,11 +1975,8 @@ async function loadExchangeHistory(generation: number = scopeGeneration): Promis
   const container = document.getElementById('ri-exchange-history-list');
   if (!container) return;
 
-  container.textContent = '';
-  const loadingP = document.createElement('p');
-  loadingP.className = 'loading';
-  loadingP.textContent = 'Loading exchange history...';
-  container.appendChild(loadingP);
+  // Issue #186: skeleton rows shaped like the 7-column history table.
+  showSkeletonRows(container, 3, 7);
 
   try {
     const records = await api.getRIExchangeHistory();
diff --git a/frontend/src/settings.ts b/frontend/src/settings.ts
index edc45829..071785ab 100644
--- a/frontend/src/settings.ts
+++ b/frontend/src/settings.ts
@@ -22,6 +22,7 @@ import {
   isServiceFilterError,
 } from './serviceFilters';
 import { initLadderingSettings } from './ladder';
+import { showSkeletonText } from './lib/skeleton';
 import { canonicalizeServiceConfigs, legacySettingsServiceTarget } from './lib/settings-service-ids';
 import { buildLastUpdatedStamp } from './lib/last-updated';
 
@@ -1217,7 +1218,7 @@ function appendLegacyOverrideHint(cell: HTMLElement, o: api.AccountServiceOverri
 }
 
 export async function loadOverridesPanel(accountId: string, panel: HTMLElement, provider: AccountProvider): Promise<void> {
-  panel.textContent = 'Loading\u2026';
+  showSkeletonText(panel, 2); // issue #186: was a plain "Loading…" line
   try {
     const overrides = await api.listAccountServiceOverrides(accountId);
     panel.textContent = '';
@@ -3065,7 +3066,11 @@ export async function loadGlobalSettings(): Promise<void> {
   const formEl = document.getElementById('global-settings-form');
   const errorEl = document.getElementById('settings-error');
 
-  if (loadingEl) loadingEl.classList.remove('hidden');
+  if (loadingEl) {
+    loadingEl.classList.remove('hidden');
+    // Issue #186: skeleton instead of the static "Loading settings..." text.
+    showSkeletonText(loadingEl, 6);
+  }
   if (formEl) formEl.classList.add('hidden');
   if (errorEl) errorEl.classList.add('hidden');
 
diff --git a/frontend/src/styles/base.css b/frontend/src/styles/base.css
index 681870ec..2efe48a6 100644
--- a/frontend/src/styles/base.css
+++ b/frontend/src/styles/base.css
@@ -295,6 +295,32 @@ body {
     margin-bottom: 0;
 }
 
+/* Skeleton tables (showSkeletonRows). The shimmer boxes are 80% of an
+ * auto-sized cell; with nothing else in the cell, auto layout shrank the
+ * cells to their padding and the boxes to 0px, so on Opportunities the
+ * "skeleton" was a blank card that read as a hang (issue #186). Fixed
+ * layout spreads the columns over the full width and the min-width keeps
+ * every box visible on narrow viewports. */
+.skeleton-table {
+    width: 100%;
+    table-layout: fixed;
+}
+
+.skeleton-row .skeleton {
+    min-width: 1.5rem;
+}
+
+/* Slow-response fallback appended by lib/skeleton.ts after
+ * SKELETON_SLOW_MS (issue #186). Spans the full row when the skeleton
+ * container is a grid (Home KPI tiles, Plans cards). */
+.skeleton-slow-note {
+    grid-column: 1 / -1;
+    margin: var(--cudly-sp-3) 0 0;
+    color: var(--cudly-text-muted);
+    font-size: var(--cudly-fs-sm);
+    text-align: center;
+}
+
 @keyframes cudly-shimmer {
     0%   { background-position: 200% 0; }
     100% { background-position: -200% 0; }
diff --git a/frontend/src/styles/responsive.css b/frontend/src/styles/responsive.css
index 9f5d8b20..8b5684cc 100644
--- a/frontend/src/styles/responsive.css
+++ b/frontend/src/styles/responsive.css
@@ -356,6 +356,12 @@ body.sidebar-open {
     overflow-x: auto;
 }
 
+/* The loading skeleton has nothing to scroll; as a block its cells
+ * collapsed and the shimmer was invisible (issue #186). */
+#recommendations-list > table.skeleton-table {
+    display: table;
+}
+
 /* Wide-table scroll affordances (issue #185); lib/table-scroll.ts sets the
  * classes and variables. A scroller with columns cut off on one side fades
  * that edge out, so the clipped column reads as "more this way". The fade is
diff --git a/frontend/tests-e2e/loading-fallback.spec.ts b/frontend/tests-e2e/loading-fallback.spec.ts
new file mode 100644
index 00000000..6d5082fa
--- /dev/null
+++ b/frontend/tests-e2e/loading-fallback.spec.ts
@@ -0,0 +1,36 @@
+import { test, expect } from '@playwright/test';
+import { mockApi, seedAuth, RECS, SUMMARY } from './fixtures/recs';
+
+// Issue #186: the Opportunities skeleton is visible, a skeleton that sits for
+// a long time gets a "Still loading" note so a slow response does not look
+// like a hang, and the note goes away with the skeleton once data arrives.
+
+test('slow recommendations load shows a still-loading note, then the table', async ({ page }) => {
+  await seedAuth(page);
+  await mockApi(page);
+  let release: () => void = () => undefined;
+  const gate = new Promise<void>((resolve) => { release = resolve; });
+  await page.route(/\/api\/recommendations(?:\?.*)?$/, async (route) => {
+    await gate;
+    await route.fulfill({ json: { recommendations: RECS, summary: SUMMARY, regions: [] } });
+  });
+  await page.clock.install();
+  await page.goto('/opportunities');
+
+  const list = page.locator('#recommendations-list');
+  await expect(list.locator('.skeleton-row')).toHaveCount(5);
+  // The shimmer must actually be visible: the Opportunities table is
+  // display:block for scrolling, which used to collapse skeleton cells to 0px.
+  const box = await list.locator('.skeleton-row .skeleton').first().boundingBox();
+  expect(box!.width).toBeGreaterThan(16);
+  await expect(list.locator('.skeleton-status')).toHaveText('Loading…');
+  await expect(list.locator('.skeleton-slow-note')).toHaveCount(0);
+
+  await page.clock.fastForward(8_000);
+  await expect(list.locator('.skeleton-slow-note')).toHaveText('Still loading. This is taking longer than usual.');
+
+  release();
+  await expect(list.locator('tr.recommendation-row').first()).toBeVisible();
+  await expect(list.locator('.skeleton-slow-note')).toHaveCount(0);
+  await expect(list.locator('.skeleton-status')).toHaveCount(0);
+});
diff --git a/frontend/tests-e2e/purchasing-sections.spec.ts b/frontend/tests-e2e/purchasing-sections.spec.ts
index f63124bf..a2fa0cd8 100644
--- a/frontend/tests-e2e/purchasing-sections.spec.ts
+++ b/frontend/tests-e2e/purchasing-sections.spec.ts
@@ -65,5 +65,9 @@ test('Exchange Automation loads inside its own titled frame', async ({ page }) =
   const frame = page.locator('#ri-exchange-automation-settings > fieldset');
   await expect(frame.locator('legend')).toHaveText('Exchange Automation');
   await expect(frame).toHaveAttribute('aria-busy', 'true');
-  await expect(frame.locator('.loading')).toHaveText('Loading exchange automation settings...');
+  // Issue #186: the shared skeleton (with its screen-reader status) fills the
+  // frame instead of a visible loading paragraph.
+  await expect(frame.locator('.skeleton-group')).toBeVisible();
+  await expect(frame.locator('.skeleton-status')).toHaveText('Loading…');
+  await expect(frame.locator('p.loading')).toHaveCount(0);
 });