An elevated PSA indicates that investigation is required. I'm sure you're aware, though, that about 70% of men your husband's age have prostate cancer, so the odds are that he does have it? Generally, though, it has no symptoms and in many cases will require no treatment. Most men die with it, not from it.
Just a matter of waiting for the diagnostic process to wend its way through to a conclusion, which I'm afraid is likely to take a couple of months.
Best wishes,
Chris