Apple Bread Pudding with Caramel Sauce

9 cup stale bread cubes (about 12 slices)
1/2 cup raisins
1 1/2 cups milk
4 medium apples
1/2 cup granulated sugar
4 eggs
1/4 cup butter or margarine, melted

Caramel Sauce:
1 cup cold water
1 tablespoon cornstarch
1/2 cup granulated sugar
1 teaspoon cinnamon
3 tablespoons butter or margarine
2 teaspoons vanilla extract

Heat oven to 375 degrees F.

Cut bread into small pieces and place in bowl. Add raisins. Pour milk over bread and raisins. Peel, core, and slice apples. Cut apples in quarters and place over bread mixture.

In bowl combine sugar, eggs and melted butter; whisk until smooth. Pour egg mixture over apples and stir to combine. Bake for 50 to 55 minutes.

Sauce: Combine water and cornstarch in microwave-safe dish, stirring until blended. Add sugar and cinnamon and whisk until dissolved. Microwave on HIGH for 2 to 3 minutes or until thickened. Check and stir halfway through cooking time. Remove; add butter and vanilla extract. Stir until butter is melted. Serve sauce over bread pudding.