The 19-year-old has made two first-team appearances for Wolves since joining in 2014, both as a substitute in the Championship last season.
A former Chelsea trainee, Hunte has appeared for England at Under-17 level.
Hunte, who could make his debut on Tuesday against Leyton Orient, joins after Boro signed winger Jobi McAnuff before the League Two season began.
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League Two side Stevenage have signed Wolves winger Connor Hunte on loan until January.