Hundreds of Wolves fans invaded the Molineux pitch at the final whistle to celebrate in front of the players' tunnel.
But McCarthy is aware his side still need Burnley to fail to beat Liverpool on Sunday before Premier League survival is guaranteed for another season.
McCarthy said: "You can congratulate me on getting a point by all means but that is all for now. I can understand the fans' reaction. I guess it was understandable.
"We all know the maths. Burnley have got to win their last three games and we've got to get nothing from our last two matches.
"But I'm still not getting carried away. Liverpool have been half-way around the world, or so it will seem after the travelling they have done this week, and if they lose at Burnley it will still not be settled.
"We aren't safe yet. Until then I will continue to be the straight-talking Yorkshireman I get portrayed as. If we stay up, I will be the complete opposite."
Ebanks-Blake scored his first Premier League goal in open play with 10 minutes remaining, just 60 seconds after coming on as a substitute.
But, although McCarthy was happy to praise the striker, he was also quick to highlight the team effort which has taken Wolves to the brink of survival.
He said: "It was nice for him to score. He has been upset through not scoring goals and not playing as much as he would have wanted.
"I am thrilled for him and his goal has got us a point. But let's not forget the other points everyone has helped to graft out during the season when enjoying a moment of euphoria for Sylvan."
Blackburn boss Sam Allardyce believes Wolves are already across the finishing line in their bid to stay up.
He said: "I'm very pleased for Wolves. Although they are not mathematically safe, I can't see them not getting anything from their last two games and Burnley winning three on the trot.
"But from our point of view I thought it was a game we should have won. We had enough chances but failed to finish them off.
"In this league every position is worth £750,000 and that is like a good down payment on a decent player.
"We want to finish as high as possible but we slipped up in allowing Ebanks-Blake a free header for the equaliser."
Ryan Nelsen gave Blackburn a first half lead but then Molineux erupted when Ebanks-Blake headed wide of Paul Robinson.