Grandma's Old-Fashioned Bread Pudding with Vanilla Sauce

Ingredients:

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:
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. 
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). 
Take off the heat and stir in vanilla. 
To serve, spoon warm pudding into individual dessert dishes; serve with sauce. Store refrigerated