We have detected the host galaxies of 16 nearby, radio-quiet quasars using
images obtained with the Near-Infrared Camera and MultiObject Spectrometer.
We confirm that these luminous quasars tend to live in luminous, early-typ
e host galaxies, and we use the host-galaxy magnitudes to refine the lumino
sity/host-mass limit inferred from ground-based studies. If quasars obey th
e relation M-blackhole/M-spheroid similar to 0.006 found for massive dark o
bjects in nonactive galaxies, then our analysis implies that they radiate a
t up to similar to 20% of the Eddington rate. An analogous analysis for ult
raluminous infrared galaxies shows them to accrete at up to similar Eddingt
on fractions, consistent with the hypothesis that some of them an powered b
y embedded quasars.