diff --git a/CHANGELOG.md b/CHANGELOG.md
index c8b00b8c23..c45b7398fa 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,12 @@ Please add one entry in this file for each change in Yarn's behavior. Use the sa
 
 ## Master
 
+- Adds support for reading `yarnPath` from v2-produced `.yarnrc.yml` files.
+
+  [#7350](https://github.com/yarnpkg/yarn/pull/7350) - [**Maël Nison**](https://twitter.com/arcanis)
+
+## 1.17.0
+
 - Adds prereleases flags and prerelease identifier to `yarn version`.
 
   [#7336](https://github.com/yarnpkg/yarn/pull/7336) - [**Daniel Seijo**](https://github.com/daniseijo)
@@ -19,7 +25,7 @@ Please add one entry in this file for each change in Yarn's behavior. Use the sa
 - Yarn will tolerate Yaml at parse time. Full support isn't ready yet and will only come at the next major.
 
   [#7300](https://github.com/yarnpkg/yarn/pull/7300) - [**Maël Nison**](https://twitter.com/arcanis)
-  
+
 - Fixes a bug when using the `link:` protocol with a folder that doesn't contain a `package.json`
 
   [#7337](https://github.com/yarnpkg/yarn/pull/7337) - [**Maël Nison**](https://twitter.com/arcanis)
diff --git a/src/rc.js b/src/rc.js
index dd61a19ab3..4771665889 100644
--- a/src/rc.js
+++ b/src/rc.js
@@ -46,7 +46,7 @@ function loadRcFile(fileText: string, filePath: string): {[key: string]: string}
   let {object: values} = parse(fileText, 'yarnrc');
 
   if (filePath.match(/\.yml$/)) {
-    values = {yarnPath: values.yarnPath};
+    values = {'yarn-path': values.yarnPath};
   }
 
   // some keys reference directories so keep their relativity
diff --git a/src/util/rc.js b/src/util/rc.js
index dbc960c637..4be6cbba21 100644
--- a/src/util/rc.js
+++ b/src/util/rc.js
@@ -19,10 +19,10 @@ function getRcPaths(name: string, cwd: string): Array<string> {
   }
 
   function unshiftConfigPath(...segments) {
-    configPaths.unshift(path.join(...segments));
     if (segments[segments.length - 1] === `.${name}rc`) {
       configPaths.unshift(path.join(...segments.slice(0, -1), `.${name}rc.yml`));
     }
+    configPaths.unshift(path.join(...segments));
   }
 
   if (!isWin) {