So if I have a wildcard on a domain, I could basically update DDNS client to use myhome.mydomain.com?
Not sure if the provider allows it, but see if you could have a wildcard CNAME pointing to myhome.mydomain.com, and have the DDNS client update myhome.mydomain.com.
Personally I advise against using wildcards however, it might generate a lot of background noise hitting your IP address. Much better to create hosts as needed.