The Boro boss is well aware that at the beginning of the campaign, the Teessiders were the bookies' favourites to win promotion back the Premier League.
That is a far cry from reality though, with Easter weekend wins over Hull and Coventry helping Mowbray's men to mathematically secure their Championship safety.
After hovering in and around the bottom three for the majority of the season, one defeat in ten has catapulted Boro up to 15th with a renewed sense of optimism sweeping around the Riverside Stadium.
While Mowbray is happy with his side's form, the boss is refusing to get carried away and insists he will not be making any predictions about next year's promotion prospects.
"We feel as if we have underachieved this season," Mowbray said.
"We need to be better next year but there won't be any bold statements that we're going to run away with the league because we know how tough this division is.
"There'll be three pretty strong teams coming down from the Premier League and it looks like they'll be three very strong teams coming up from League One.
"Brighton, Southampton and maybe Huddersfield or Peterborough, they're all very strong sides. So I think the league will be very competitive but I think we've shown we can win matches and be at the right end of the league.
"Footballers are human beings and they would have seen the bookies' odds and the press bigging up their promotion chances at the beginning and players will buy into that.
"That's why I'm guarded on next season. I don't want to say we're going to get promoted next season because if we're 14th at Christmas, it'd be seen as a negative whereas it might actually be an improvement from what it was this year.
"Continuing to improve is what we strive for and bit by bit you get to where you want to be."
For the last three seasons, Boro's opponents on Monday, Cardiff City, have come close to gaining promotion.
Little over 12 months ago, the Bluebirds were heartbroken when they were beaten by Blackpool in the play-off final and Mowbray believes that Dave Jones' side are an example of the patience needed in the quest for promotion.
"You have to look at Cardiff," the Boro boss said. "How many years has Dave Jones been striving to get them out of this league They get so close every year.
"I think there's been years when he's just missed the play-offs and then he's got beaten in the play-off final.
"Will they get automatic or play-offs But my point is look how far it's taken Cardiff and to this point they're still not in the Premier League.
"Has he done a great job I think so. From my perspective it's really about trying to be better next year and while we'll want to be pushing for promotion, there's no guarantee because it's a very hard league."
Boro travel to South Wales for the televised clash with Cardiff on Monday evening, but they could be without striker Scott McDonald, who missed the win over Coventry after limping off with a hamstring injury against Hull.
Mowbray admits it is touch and go whether the striker will be fit to face Cardiff.
"It wasn't a bad hamstring tear, it's not a six week job but I think obviously we're at the stage in the season with only a week to go, but we'll have to make that decision" Mowbray said.
"Right now, the answer with Scott would probably be no, but I know the boy is desperate to be involved and he'll probably be out on the training ground before we fly to Cardiff to see if he's going to be fit or not."
Source: Northern Echo
Source: Northern Echo