Low-spin structures in $^{86,88}\mathrm{Mo}$ were populated using the $^{58}\mathrm{Ni}$($^{36}\mathrm{Ar}$, $x\ensuremath{\alpha}yp$) heavy-ion fusion-evaporation reaction at a beam energy of 111 MeV. Charged particles and \ensuremath{\gamma} rays were emitted in the reactions and detected by the DIAMANT CsI ball and the EXOGAM Ge array, respectively. In addition to the previously reported low-to-medium spin states in these nuclei, new low-spin structures were observed. Angular correlation and linear polarization measurements were performed in order to unambiguously determine the spins and parities of intensely populated states in $^{88}\mathrm{Mo}$. Quasiparticle Random Phase Approximation (QRPA) calculations were performed for the first and second excited ${2}^{+}$ states in $^{86}\mathrm{Mo}$ and $^{88}\mathrm{Mo}$. The results are in qualitative agreement with the experimental results, supporting a collective interpretation of the low-spin states for these transitional nuclei.