Despite Wolves manager Nuno and Blades boss Chris Wilder maintaining that they are not contenders for Champions League places, Mourinho is not underestimating Spurs' competition.
"Wolves and Sheffield United are fighting for the top four," Mourinho told Sky Sports. "[The managers] can say no, I understand if they say no, but the reality is that they are.
"Not just because of the position that they are in the table, it is because of the power and quality.
"They arrive in this situation wherein the eyes of everybody [else], they should be more than happy - they are not more than happy."
Wolves bought Daniel Podence from Olympiacos for £16.6m after the Portuguese winger shone in Champions League group stage clashes with Spurs, while United broke their transfer record to bring midfielder Sander Berge to Bramall Lane for £22m.
"Wolves bought an important player to try and improve their situation," Mourinho said. "Sheffield United bought an important player and beat their record in the market to try to improve their team.
"These two clubs I have to say... fantastic."