This article investigates hydraulic fracturing caused by the dynamic stimulation of a wellbore by high-rate cyclic pressure pulsing. The analysis is based on results from a plane strain fully coupled hydro-elastodynamic eXtended Finite Element Method model with leak-off. The stimulation of sandstone-like formations (1–100mD) by sinusoidal pulses is simulated. Wellbore aperture is observed to lag wellbore pressure due to inertial effects and evolves in a fashion not observed in quasi-static models. Fracture length versus time curves also lag well-bore pressure and progress in an acrimonious way not observed in quasi-static models. It is observed that fractures continue to propagate even as pressure in the fracture subsides, giving evidence of a momentum dominant fracture propagation regime. Fracture length change was seen to decrease with each pressure cycle. In the case of the analysis of a specific sandstone, fracture extension is observed to decrease with increasing fluid viscosity. Fracture extension is observed to be sensitive to pressure pulse period. For a given pulse magnitude there is an optimal period of excitation and also a critical period (low-frequency cutoff) beyond which fracture extension is negligible.