It's because Loki did something that was difficult for him to do, that went against what he may have wanted to do, that Hob is proud of him. Hob thinks Loki made the right decision. This city may be big, but everyone stuck here has to find a way to live with each other, which includes helping each other and even forgiving one another from time to time.

When Loki says that he had to face some personal issues, Hob hugs his arm around Loki a bit more. "Do you want to talk about that?" Those things that bothered Loki so much.