Do Bi-Weekly mortgage payments only reduce the mortgage time because there is an extra payment?

I thought that the main benefit to Bi-weekly payments was that the was less time for “interest to earn interest” because instead of wait all the way to the end of the month with interest building up, you pay off the charge half way, which prevents the interest from the first half of that months loan from earning more interest for the second half. Is this not the case?

In other words, I thought a 1st/15th of the month payment would also be very valuable, even if it doesn’t equal the value of a bi weekly, am I off base here?

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