Old-Fashioned Bread Pudding with Vanilla sauce

• 4 cups (8 slices) cubed white bread
• 1/2 cup raisins
• 2 cups milk
• 1/4 cup butter
• 1/2 cup sugar
• 2 eggs, slightly beaten
• 1 tablespoon vanilla
• 1/2 teaspoon ground nutmeg

Sauce Ingredients:
• 1/2 cup butter
• 1/2 cup sugar
• 1/2 cup firmly packed brown sugar
• 1/2 cup heavy whipping cream
• 1 tablespoon vanilla

Directions for Pudding:
Heat oven to 350°F. Combine bread and raisins in large bowl. Combine milk and 1/4 cup butter in 1-quart saucepan. Cook over medium heat until butter is melted (4 to 7 minutes). Pour milk mixture over bread; let stand 10 minutes. 
Stir in all remaining pudding ingredients. Pour into greased 1 1/2-quart casserole. Bake for 40 to 50 minutes or until set in center. 

Directions for Sauce:
Combine all sauce ingredients except vanilla in 1-quart saucepan. Cook over medium heat, stirring occasionally, until mixture thickens and comes to a full boil (5 to 8 minutes). Stir in vanilla. 
To serve, spoon warm pudding into individual dessert dishes; serve with bread pudding. Store in the fridge.