My dad, who is 72, has an elevated PSA (5.5). Dr. is sending him to urologist. He's had kidney cancer and melanoma so cancer is always a worry for him. I read at this level he has a 25% chance of it being cancer. What worries me is that he has had lower back/hip pain lately which CAN be a symptom of porstate cancer. He also has had a couple UTIs...which can be a sign, but dr. also said the UTI by itself could cause the PSA to be high. So we are hoping for the best.
I hope all test results come back favorable. 
I'm just the receptionist, but the nurse would be more than happy to talk with you.)
You and your dad will be in my thoughts and prayers.