  We have detected the host galaxies of 16 nearby, radio-quiet quasars using
images obtained with the Near-Infrared Camera and Multi-Object Spectrometer
(NICMOS). We confirm that these luminous quasars tend to live in luminous,
early-type host galaxies, and we use the host-galaxy magnitudes to refine the
luminosity/host-mass limit inferred from ground-based studies. If quasars obey
the relation $M_{black hole}/M_{spheroid}\sim0.006$ found for massive dark
objects in nonactive galaxies, then our analysis implies that they radiate at
up to $\sim20%$ of the Eddington rate. An analogous analysis for ultraluminous
infrared galaxies shows them to accrete at up to similar Eddington fractions,
consistent with the hypothesis that some of them are powered by embedded
quasars.
