Preheat your oven to 350ºF.

Line a loaf pan with parchment paper, ensuring a 2-inch overhang.

In a large bowl, whisk together the dry ingredients: flour, sugar, baking powder, baking soda, salt, cinnamon, and nutmeg.

In a separate bowl, whisk together the wet ingredients: oil, sour cream, milk, and egg until well blended.

Gradually add the wet mixture to the dry ingredients. Use a rubber spatula to incorporate until about 80% combined.

Fold in the finely diced apples carefully to avoid overmixing.

Pour the batter into the prepared loaf pan and spread evenly.

Bake for 60 to 70 minutes or until the internal temperature reaches around 190ºF and the top is golden brown.

Allow the cake to cool on a wire rack.

In a small saucepan, heat 1/2 cup of heavy whipping cream until it simmers.

Remove from heat and stir in the caramel until smooth. Allow it to cool slightly.

Drizzle the warm caramel sauce over the cooled cake, letting it seep into the cracks.